The School of Statistics was established in 1953 as the Statistical Training Center, then later as Statistical Center under a bilateral agreement between the Government of the Philippines and the United Nations. Its primary objective then was to work towards the improvement of statistical services in government. Ten years later, the Center was formally turned over to the University of the Philippines and in 1964, the U.P. Board of Regents approved the Bachelor of Science (Statistics) program of the Center. The B.S. (Statistics) program was implemented beginning AY 1967-1968.

In 1998, the Statistical Center changed its name to School of Statistics in order to reflect its expanded character of a degree-granting institution. Since 2006, the School is recognized by the Commission on Higher Education as the countries Center of Excellence in Statistics. At present, the School of Statistics offers one undergraduate program and three graduate programs. These are B.S. (Statistics) program, the Master of Science (MOS) program, M.S. (Statistics) program and the Ph.D. (Statistics) program. Through these programs, the School of Statistics has produced numerous distinguished and respected statisticians in various profession and is widely recognized as the primary source of statistical expertise for the Philippine Statistical System and Industry.

The School of Statistics aims to advance the development and maintenance of a high level of efficiency in statistical activities in the country and in the Asia-Pacific region through its academic programs as well as research and extension services.